Engen to ship high sulphur gas-oil to Singapore in rare move
Singapore — SA’s Engen is set to export a gas-oil cargo to Singapore, according to trade sources and shipping data. The company has provisionally booked the Torm Horizon to transport 35,000 tonnes of gas-oil to Singapore from Durban, shipping fixtures showed. The move would be unusual as SA rarely exports gas-oil. Engen did not immediately respond to a request for comment. The cargo likely comprises high sulphur gas-oil whose premium has risen to a more than three-month high this month due to prompt demand in Southeast Asia, four traders and ship-brokers said. SA is exporting 500 parts-per-million (ppm) sulphur gas-oil and importing the lower sulphur grades, a Singapore-based middle distillates trader said, declining to be identified as he was not authorised to speak with the media. SA consumes diesel with 10ppm sulphur in its domestic market, he added. A refinery typically exports high sulphur gas-oil when a secondary unit is under maintenance and is unable to process the fuel to m...
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